After you get your first job, you start a new savings plan. Starting from this month, you will deposit 20% of your monthly salary into a savings account. You currently earn $6500 per month, and the EAR is 5%. What is the total accumulated balance two years later, at the end of the 24th month? Choose the closest value.

Select one:

a.$25,276

b.$45,707

c.$41,319

d.$32,706

e.$34,593